Information technology at the forefront of operational risk: banks are at a greater risk

ABSTRACTIn today's technologically intense production processes, information technology (IT) risks cannot be considered independently of other types of risk, such as people risk, process risk and others. The introduction of any form of technology in a given production process or the mere modification of an existing IT environment necessitates a number of changes in staff skills, workflows, policies and procedures, and a host of other changes. Recognizing these challenges and categorizing them as IT-related risks will put management one step ahead. To successfully mitigate these risks, it is critically important to apply IT governance when managing this type of expenditure. This is the aim of the paper.